2Wall Street Journal Rpt.
2new york city
across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. >>> is your money safe in a question that is top of mind for almost every investor out there today. can the agency charged with watching the markets keep up with faster and newer technology? do they have enough weapons to fight fraud? mary shapiro, chairman of the securities and exchange commission. she joins me now for a rare interview. mrs. chairman, it's great to have you on the program. thanks for joining us. >> thank you, a pleasure to be here. >> i want to start with a piec
-term credit markets. the run spread to other money market funds and as i said the united states taxpayer had to step in and backstop those funds with a guarantee. we should never want to see that happen again. >>ow do you avoid that at this point? people have money in money market accounts and they think it is money in the bank. when you say break the buck. explain what that means and what steps have you taken to ensure that won't happen again? >> sure. well, people do assume what you are saying is they put a dollar in a money market fund they will get a dollar back out but it is in fact a portfolio of investment securities and they fluctuate in value. so the $1 stable net asset value as we call it is a bit of a fiction. the money market fund may be worth more or less than that at any given moment as the portfolio securities fluctuate. >> mary, there have been so many events to ruin investor confidence. you can look at the flash crash of2010, the software glitch in august. are toward safe? do you have the regulations and personnel to keep them safe? >> i think towainvestos tors are in ou
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